Streams of Canadians are buying homes in Phoenix. Why not with prices nearly half of what they were a few years ago and the Canadian dollar up. This is THE time to buy. The real estate market in Phoenix has hit the bottom and prices are starting to rise. As a result, all of the potential buyers who have been sitting on the fence waiting for the "right" time to buy are all jumping into the market at the same time.
One reality Canadians often ask about is the "multiple offer" situation. "What if there
are multiple offers on the property I want?" If the property is priced right there is a good chance it will receive multiple offers. The seller, often the bank, has a couple choices. They can accept the "Best" offer, counter the best offer, or ask for "highest and best" from all offers. "Highest and Best" means everyone that has an offer in has the opportunity to raise their offered price. A good rule is to offer what you are comfortable with and not get to caught up in the bidding wars.Most Canadians buying real estate in Arizona finance in Canada and pay cash for the home. This is where Canadians have a huge advantage against Americans who are offering a financed offer in multiple offer situations. Cash is king and a cash offer will usually be accepted before a financed offer. Most sellers, especially bank owned foreclosures, will even accept a lower priced cash offer before a financed offer. Please call me if you have any questions.
We specialize in Arizona real estate for Canadians. Let us help you find your vacation home, retirement home or investment property. Visit www.ThePhoenixExperts.com for more information about Canadians buying homes in Arizona.
Marc Brodeur BS, DC
www.ThePhoenixExperts.com
1-800-300-0263
